The Real Deal New York

Late Seagram chief’s co-op in contract for $70M

Sale of 960 Fifth Avenue would be a record -- if deal closes

April 03, 2014 09:00AM

960-fifth

960 Fifth Avenue (Inset: Edgar Bronfman Sr.)

An Upper East Side penthouse co-op formerly home to late billionaire businessman Edgar Bronfman Sr. of the Seagram Company empire is in contract for $70 million.

If the deal closes, that would make it the all-time priciest purchase of a New York City co-op, topping music mogul David Geffen’s purchase at 785 Fifth Avenue for $54 million in 2012, the New York Post reported. Bronfman’s family put the five-bedroom, eight-bathroom unit at 960 Fifth Avenue, between 77th and 78th streets, on the market for $65 million back in February, as previously reported.

The undisclosed buyer in contract would also pay more than $19,000 per month in maintenance charges. Brown Harris Stevens’ Mary Rutherfurd, Alina Pedroso and Leslie Coleman have the listing.

“The apartment needs work. It needs a complete gut renovation. It is nothing like what you would build today. It doesn’t have the right flow,” a source told the New York Post.

Bronfman died in December at the age of 84. [NYP]Mark Maurer

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